1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
zhannawk [14.2K]
3 years ago
7

Identify whether a debit or credit results in the indicated change for each of the following accounts.

Business
1 answer:
Maksim231197 [3]3 years ago
8 0

Answer:

a. To increase Land - Debit

b. To decrease Cash - Credit

c. To increase Fees Earned (Revenues) - Credit

d. To increase Office Expense - Debit

e. To decrease Unearned Revenue - Debit

f. To decrease Prepaid Rent - Credit

g. To increase Notes Payable - Credit

h. To decrease Accounts Receivable - Credit

i. To increase Common Stock - Credit

j. To increase Store Equipment - Debit

Explanation:

Debit gives details of spending, sum owed , amount to balance which is usually recorded to the left side of an account entry book while credit gives the details of income, amount earned or made on sale, spending cut and revenue and is usually placed to the right hand column of an account entry.

You might be interested in
Economics: A group of competitors who work in unison to control the supply and price of their product is called a
7nadin3 [17]

Answer:

cartel

Explanation:

A "cartel" is a<em> group of competitors or market participants</em> who are independent from each other. They <u>work in unison by cooperating secretly</u> in an <em>unlawful way</em> so they can control the supply and price of their products. In this way, they can dominate the market.

Such type of alliance with rivals have existed since the ancient times. It <em>increased following </em><em>World War I,</em> but<em> started declining after </em><em>World War II</em>.

So, this explains the answer.

6 0
3 years ago
Grape Corporation purchased a machine in December of the current year. This was the only asset purchased during the current year
Elden [556K]

Answer:

d. In the following year using a half-year convention

Explanation:

Since the mechine will only be in service in January of the following year, The corporation cost recovery should begin in the following year using a half year convention.

6 0
3 years ago
The company has net sales revenue of $7.4 million during 2018. The company's records also included the following information: As
zimovet [89]

Answer:

1.42

Explanation:

The fixed asset turnover is a financial ratio that shows how much sales is generated by management for each $1 invested in fixed asset over the period. It is the ratio of sales to average fixed asset.

Average fixed asset is the sum of the beginning and ending fixed asset divided by 2.

Average fixed assets

= ($4.2 + $6.3)/2   (Amount in millions)

= $5.25 million

The company's fixed asset turnover ratio for 2018

= $7.4/$5.2

= 1.42

It means that the company makes a sales revenue of $1.42 for every $1 invested in fixed assets.

6 0
3 years ago
Read 2 more answers
What a major economic decision that each society has to think about and decide upon
lapo4ka [179]

Society must choose what to produce based on its needs. Because we live in a world of relatively scarce resources, we have to make wise economic decisions.

I hope this helps a lil

8 0
3 years ago
Linda installed a special pool for the hydrotherapeutic treatment of severe arthritis, as prescribed by her doctor. The cost of
brilliants [131]

Answer:Therefore amount of deductions allowable in year of installation = $7,808

Explanation:

Deductions  entitled in the year of installation of pool  =Cost of installing pool -insurance cost - the increase in property value

=$19,520- $4,880 -$6,832

=$7,808

Therefore amount of deductions allowable = $7,808

4 0
3 years ago
Other questions:
  • You have been asked to analyze the bids for 200 polished disks used in solar panels. These bids have been submitted by three sup
    5·1 answer
  • In the old Merck compensation system, if the salary line formula is: control point = $1544 + $4.72*Hay point. How much will a mi
    14·1 answer
  • A company manufactures and sells a product for $124 per unit. The company's fixed costs are $72,760, and its variable costs are
    6·1 answer
  • You plan to analyze the value of a potential investment by calculating the sum of the present values of its expected cash flows.
    13·1 answer
  • In denim fabric what do you call the yarn that runs vertically
    7·2 answers
  • What is a general advantage of setting promotion budgets to whatever level companies believe they can afford? Does not acknowled
    10·1 answer
  • A manager who always achieves the tasks given to him or her, uses verbal putdowns and poor performance evaluations to motivate e
    14·1 answer
  • Given the following information pertaining to item AX143, determine the appropriate number of kanban cards that should be used t
    7·1 answer
  • Which of the following are true about cost allocation? A. Cost allocation is a form of transfer pricing for indirect costs B. Co
    12·1 answer
  • Traditional project management focuses on thorough planning up front. such planning requires ____.
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!